Wednesday, Jan 21, 2015

First dollar peg to fall following breakdown of the Swiss Euro peg

Zero Hedge: Oil Producers Currency Collapse Continues, Nigeria's Naira Crashes To Record Low Against Dollar

"Having proclaimed it is not Zimbabwe, Nigeria's currency is starting to look a lot like a hyper-inflating mess. After devaluing to a 168 peg in November, the Naira has crashed to 200 / USD today - smashing above the upper peg band of 176 as it appears Nigeria is losing control." It appears that we are moving to a new world order determined by global capital flows rather than central bank manipulation.

Posted by libertas @ 02:58 PM (1780 views)
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